Morning all.
I'm still trying to get my head around this.
I thought the major risk in this investment was the windfarm not being built; never did I even contemplate the 'business' potentially folding because accounts weren't submitted on time. I haven't got a background in accountancy, but is this normal? Are the accounts particularly challenging to prepare and submit? Is there any mitigation for the accounts not being filed on time?
It seems like Ripple have done the hard part (building the windfarm) only to be let down by failing to do something relatively simple. Am I missing something?
At least it seems that independent accounting advisors and auditors have been appointed to investigate and resolve the situation, which is good news.